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Campus Crest reports earnings in 3Q

Charlotte-based student housing developer Campus Crest Communities reported earnings in the third quarter, a reversal from the same period last year.

On Tuesday, it said it had net income of $408,000, or 1 cent per share, in the third quarter, compared with a net loss of $6.3 million in the year-ago quarter.

Revenue was $20.39 million, up from $16.87 million.

The company went public in October of last year.

Campus Crest also said it is narrowing its earnings projections for 2011 to 72 cents to 74 cents per fully diluted share.

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